International crude oil price is the referential scale of spot crude oil price and refined oil price. This paper made an analysis and prediction of Brent crude oil price by ARIMA model based on its price data from November 2012 to April 2013. It indicated that model ARIMA (1,1,1) possessed good prediction effect and can be used as short-term prediction of International crude oil price.
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Xiang et al. (2013) studied this question.
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